Barclays Reiterates an 'Overweight' on Spirit AeroSystems (SPR); Tougher Q1 Highlights Risks
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Price: $39.50 --0%
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays reiterates an 'Overweight' on Spirit AeroSystems (NYSE: SPR), PT $28.
Barclays analyst says, "SPR reported Q1 FY2011 EPS of $0.24 (including a $0.14 charge on the CH-53K program) vs. consensus of $0.32 and our estimate of $0.31 (already adjusted for the charge). The majority of the earnings miss (~$0.07) vs. our estimate came from lower EBIT (higher R&D) in Fuselage and Wing Systems. Revenues of $1.05Bn were light of consensus of $1.23Bn and our estimate of $1.11Bn."
"SPR's Q1 highlights some of the challenges that the company continues to face, namely difficulties with new product development programs and weak near-term cash generation, in our view. With that said, we think SPR remains well positioned on both core and developmental programs serving end-markets that are poised to grow rapidly. Similar to our BA thesis, as the 787 continues to progress at a steady pace, SPR shares will be increasingly difficult for investors to ignore, in our view."
For more ratings news on Spirit AeroSystems click here and for the rating history of Spirit AeroSystems click here.
Shares of Spirit AeroSystems closed at $23.76 yesterday.
Barclays analyst says, "SPR reported Q1 FY2011 EPS of $0.24 (including a $0.14 charge on the CH-53K program) vs. consensus of $0.32 and our estimate of $0.31 (already adjusted for the charge). The majority of the earnings miss (~$0.07) vs. our estimate came from lower EBIT (higher R&D) in Fuselage and Wing Systems. Revenues of $1.05Bn were light of consensus of $1.23Bn and our estimate of $1.11Bn."
"SPR's Q1 highlights some of the challenges that the company continues to face, namely difficulties with new product development programs and weak near-term cash generation, in our view. With that said, we think SPR remains well positioned on both core and developmental programs serving end-markets that are poised to grow rapidly. Similar to our BA thesis, as the 787 continues to progress at a steady pace, SPR shares will be increasingly difficult for investors to ignore, in our view."
For more ratings news on Spirit AeroSystems click here and for the rating history of Spirit AeroSystems click here.
Shares of Spirit AeroSystems closed at $23.76 yesterday.
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